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Global Finance awards an Iraqi bank a global prize in recognition of its performance

The National Bank of Iraq announced on Monday that it had won the “Best Bank in Iraq for 2026” award, granted by the international magazine “Global Finance”, as part of its annual Best Bank Awards 2026 , which honors the most distinguished banking institutions worldwide. Iraqeconomy updates

The bank said in a statement, “This win is a significant milestone in the bank’s journey, as it was chosen for the first time as the best bank in Iraq, alongside a select group of the most prominent banking institutions in the Middle East and the world, in an achievement that reflects the growing status the bank has attained and the confidence of local markets and international bodies in its performance and strategy.”

He explained that “the awarding of this prize came in recognition of the development, institutional and digital transformation journey that the bank has pursued over the past years, and its continuous commitment to enhancing the quality of banking services and innovating advanced financial solutions that meet customer needs, in addition to its active contribution to supporting and developing the banking sector in Iraq.”

Commenting on this honor, the Managing Director of the National Bank of Iraq, Ayman Abu Dahim, said, “The bank’s receipt of this award reflects the progress it has made in recent years in developing banking services and enhancing the bank’s digital infrastructure, within a vision aimed at improving customer experience and providing advanced financial solutions that meet market demands.”

Abu Dahim added, “This achievement is an incentive to continue working to consolidate its position as a leading banking institution in Iraq by expanding the scope of banking services and adopting the latest innovations in the financial sector, which contributes to supporting the development of the banking sector in Iraq and enhancing its role in supporting economic activity.”

Miliq.news

The government’s financial advisor: The liquidity crisis is temporary and there is no cause for concern.

The government’s financial advisor, Mazhar Muhammad Saleh, reassured employees and citizens about the stability of the financial situation and the security of salaries, stressing: “The financial liquidity crisis is temporary and there is no reason to worry.”

Mohammed Saleh told the Iraqi National News Agency: “The main concern and issue currently being raised in public opinion is the monthly flow of salaries, grants, pensions and social assistance, as it is not easy for the Iraqi citizen to be cut off from them, as 40 million Iraqis are affected by the daily income.” MiddleEast news

The financial advisor affirmed: “The government of Prime Minister Ali al-Zaidi considers the citizen’s salary a strategic issue, and the citizen is the highest value in the state.”

He explained: “The economic crisis is an external crisis and not a result of Iraq’s internal policies. In addition, there is an accumulation of wrong policies inherited for more than half a century due to the problems that have befallen the country.”

He pointed out that: “What happened was due to the closure of the Strait of Hormuz, which cut off more than 90% of the budget revenues that depend on oil revenues, thus depriving the budget of the most important central financial resource that feeds its monthly flows. The problem is twofold: the regularity of the budget’s liquidity and a financial crisis that worsens over time, as the country feeds on a single financial resource, which is oil.”

He stressed: “The Al-Zidi government is keen to secure the requirements of this budget, foremost among them the bill for salaries, pensions and social assistance, which amounts to about 8 trillion Iraqi dinars, in addition to government expenses of about 2 trillion, meaning that Iraq needs 10 trillion Iraqi dinars monthly, which must be available for spending, and managing it is not a matter of control in light of the interruption of state resources.”

He continued: “There is a high level of austerity being exercised by the Ministry of Finance to reduce expenditures, maximize non-oil revenues, and reduce unnecessary and unaffordable expenditures.”

Mohammed Saleh concluded by saying, “There is no fear of a halt in employee salary payments. We assure citizens that the country’s leadership prioritizes salaries, pensions, and social assistance above all other needs. Any financial resources that become available are allocated to salaries, and any delays of a few days are temporary and will be addressed in the coming months.”

Burathanews.com

Badr Parliamentary Bloc denies that the vacant ministerial posts will be filled next week: Deep disagreements are delaying their completion.

The Badr parliamentary bloc denied on Monday that the Prime Minister had sent the names of candidates for the vacant ministerial posts to Parliament for a vote next week, confirming that political disagreements and objections regarding these names persist. Bloc member Mukhtar al-Youssef told the Information Agency that “political disagreements regarding the identity of the candidates to fill the vacant ministries are still ongoing and are currently under discussion,” explaining that “the names have not yet been finalized due to widespread parliamentary and political objections.”

Al-Youssef added that “resolving this complex issue will take some time and requires intensive dialogue and deep understandings between the political blocs on one hand, and the Prime Minister on the other.”

This denial comes after MP Ahmed al-Moussawi of the Sadiqun parliamentary bloc asserted in a press statement on Sunday that the official announcement of the candidates for the vacant ministerial posts would be made next week.

Almaalomah.me

Iraq plans two new oil export routes via Fishkhabur and Banias.

The Iraqi Ministry of Oil announced on Monday its intention to establish a new pipeline system for transporting and exporting crude oil via two routes to Fishkhabur and Banias, as part of its plans to develop infrastructure and diversify the outlets for exporting Iraqi crude to global markets. Dailynews reports

The ministry said in a statement, received by Shafaq News Agency, that its Undersecretary for Extraction Affairs, Naseer Aziz, chaired a meeting to discuss the project to establish the new pipeline system, stressing that the proposed routes will provide additional export outlets in addition to the main outlet in southern Iraq, which will enhance the flexibility of the export system and provide multiple options for marketing and transporting crude oil.

Aziz explained that the project includes two routes, the first being Basra – Haditha – Fishkhabur, and the second being Haditha – Banias, indicating that its implementation will contribute to developing the infrastructure for transporting and exporting crude oil and enhancing Iraq’s ability to diversify the routes and outlets of its oil exports.

He stressed the importance of expediting the development of project implementation mechanisms and identifying its technical and operational requirements and needs, in addition to completing discussions with the consortium of international companies UCC, TI CAPITAL and CHEVRON regarding investment in implementing the project using the BOOT method.

The meeting was attended by the Director General of Basra Oil Company, representatives from North Oil Company, Missan Oil Company, SOMO Oil Marketing Company, and the Department of Studies, Planning and Follow-up.

It is worth noting that Iraq and Syria signed a memorandum of understanding on July 17, under US auspices, to restart the Kirkuk-Banias pipeline, allowing the resumption of Iraqi oil transport to Mediterranean ports via Syrian territory, in a move aimed at diversifying export outlets and strengthening economic cooperation between the two countries.

Shafaq.com

The Iraqi government denies distributing salaries every 45 days.

Iraqi government spokesman Haider al-Aboudi confirmed on Monday that oil wealth represents the largest part of the general budget, while denying any intention to distribute salaries every 45 days. Dailynews reports

Al-Aboudi said during a press conference attended by Shafaq News Agency that “Iraq has not exported oil since last February, after the closure of the Strait of Hormuz, and oil exports have decreased, reaching 4 million barrels per month in April.”

He added that “Iraq is one of the countries affected by the crisis and the closure of the Strait of Hormuz, and the government has agreed with Türkiye to increase oil exports.”

He added: “We reiterate that the salaries of employees are fully secured, and the issue of 45 days is a rumor,” indicating that “the government has not resorted to external borrowing, and there is a proposal in the House of Representatives regarding borrowing.”

Shafaq.com

Al-Aboudi: Talks to complete the government cabinet “do not meet expectations”

Iraqi government spokesman Haider al-Aboudi confirmed on Monday that talks regarding the completion of the government cabinet “do not meet expectations.” Dailynews reports

Al-Aboudi said during a press conference attended by Shafaq News Agency that “the dialogues and indicators do not meet the ambition to complete the cabinet, and that there are 9 vacant ministries.”

He explained: “Therefore, the Prime Minister instructed the undersecretaries to attend the Cabinet meeting.”

He pointed out that “there is coordination between the office of the Commander-in-Chief of the Armed Forces and the Kurdistan Region to complete the steps and finalize the withdrawal of the international coalition forces.”

Shafaq.com

Al-Zaydi’s government responds to parliament: We have no knowledge of the Saudi bombing.

The Iraqi government, headed by Ali al-Zaidi, confirmed on Monday that it had no prior knowledge of the targeting of Popular Mobilization Forces sites, denying claims that it had prior information about the attack and failed to take the necessary measures.

Iraqi government spokesman Haider al-Aboudi said during a press conference attended by a Shafaq News Agency correspondent that “the targeting and attack on the Popular Mobilization Forces sites was not with the knowledge of the government,” indicating that there are those who are trying to stir up public opinion in this direction. MiddleEast news

He explained that the Prime Minister and the government delegation were on a visit to Türkiye when the attack occurred, noting that the targeting coincided with the government delegation’s return to Baghdad.

Al-Aboudi’s statements come after the First Deputy Speaker of Parliament , Adnan Faihan, directed yesterday, Sunday, the formation of a committee to investigate and find out the truth about the government’s prior knowledge of the date of the American-Saudi targeting of Iraq, and whether it had taken the necessary measures, with the committee to submit its report within a week.

The Popular Mobilization Forces had also previously denied the accusations leveled against its head, Faleh al-Fayyad, regarding his having prior information about the targeting of the PMF headquarters and his failure to inform the military units, describing them as “baseless claims.”

Shafaq.com

Iraq advances 5 places in the list of the world’s richest countries for 2026

Iraq ranked 109th globally out of 189 countries in the list of the world’s richest countries for 2026, according to the American magazine Global Finance, recording a gross domestic product per capita according to purchasing power parity of $15,359.60 internationally. Dailynews reports

According to the ranking seen by Shafaq News Agency, Iraq has advanced 5 places compared to 2025, when it ranked 114th globally.

In the Arab world, Qatar topped the list, followed by the UAE, then Saudi Arabia, Bahrain, Kuwait, Oman, Egypt, Algeria and Libya, while Iraq came in tenth place in the Arab world, followed by Tunisia, Lebanon and Jordan.

The ranking is based on per capita GDP according to purchasing power parity, a measure that takes into account differences in inflation and the costs of goods and services between countries, with the aim of making a comparison between living standards and purchasing power in different economies.

Globally, Singapore topped the list with an international output of $156,755.35 per capita, followed by Luxembourg with $152,966.48, then Ireland with $152,632.06, while Macau Special Administrative Region came in fourth, Qatar fifth, Norway sixth, and Switzerland seventh.

The report noted that a high per capita GDP based on purchasing power parity does not necessarily mean that all residents enjoy the same level of well-being, as levels of inequality in income distribution, as well as the nature of economies and tax havens, can affect the accuracy of using this indicator to measure the standard of living of the population.

Shafaq.com

The Minister of Finance and the Governor of the Central Bank discuss the financial and economic situation.

Finance Minister Faleh Sari and Central Bank Governor Nizar Nasser Hussein discussed the financial and economic situation in the country on Sunday (August 9, 2026).

The Ministry of Finance stated in a statement that “Finance Minister Faleh Sari received Sunday, the Governor of the Central Bank of Iraq, Nizar Nasser Hussein, where the financial and economic situation was discussed in light of the current challenges.”

The minister stressed, according to the statement, that “the current circumstances require continuous coordination between fiscal and monetary policy, which will help to manage financial flows efficiently and ensure the fulfillment of the state’s obligations, while continuing to work on reforming the financial system and developing public finance management tools.”

The minister pointed to “the importance of enhancing data exchange between the Ministry of Finance and the Central Bank, and accelerating digital transformation, which will raise the efficiency of financial institutions and support their ability to respond to economic changes.”

The governor of the Central Bank explained that “the Central Bank operates according to a methodology that focuses on supporting monetary stability, developing banking operations, and keeping pace with the needs of the national economy,” stressing “the importance of coordination with the Ministry of Finance on economic and financial issues.”

According to the statement, both sides agreed to “continue joint work on measures to enhance financial and monetary stability and ensure the regularity of the state’s basic obligations.”

Burathanews.com